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Nicaragua

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Background

Settled as a colony of Spain in the 1520s, Nicaragua gained its independence in 1821. Violent opposition to governmental manipulation and corruption spread to all classes by 1978 and resulted in a short-lived civil war that brought the Marxist Sandinista guerrillas to power in 1979. Nicaraguan aid to leftist rebels in El Salvador caused the US to sponsor anti-Sandinista contra guerrillas through much of the 1980s. Free elections in 1990, 1996, and again in 2001 saw the Sandinistas defeated. The country has slowly rebuilt its economy during the 1990s, but was hard hit by Hurricane Mitch in 1998.

Nicaragua, one of the hemisphere's poorest countries, faces low per capita income, flagging socio-economic indicators, and huge external debt. Distribution of income is extremely unequal. While the country has made progress toward macroeconomic stabilization over the past few years, a banking crisis and scandal has shaken the economy. Managua will continue to be dependent on international aid and debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Donors have made aid conditional on improving governability, the openness of government financial operation, poverty alleviation, and human rights. Nicaragua met the conditions for additional debt service relief in December 2000. Growth should move up in 2002 because of increased private investment and recovery in the global economy.

Holidays

Jan 1 - New Year's Day
Mar 24* - Holy Thursday
Mar 25* - Good Friday
May 1 - Labour Day
May 30 - Mother's Day
Jul 19 - National Liberation Day
Aug 1 - Santo Domingo/Fiesta Day
Sep 14 - Battle of San Jacinto
Sep 15 - Independence Day
Nov 2 - All Souls' Day
Dec 8 - Immaculate Conception
Dec 25 - Christmas Day

Ps: These festivals' dates (*) given above are approximations which are subject to change every new year.Besides, a considerable number of local holidays are also observed.

Phone Codes

Country Code: 505

Resources

Market Research

CIA - The World Factbook - Nicaragua
There is a wide range of country based research which examines Nicaragua under diferent fields as its geography, people, government, economy, communications, transportation, military, transnational issues.

Business Directory for Nicaragua
There is a number of companies' outlook which are categorized depending on their industries.

Nicaragua's Business Center
It is found many topics such as Loans, and additional tools to bring investors/visitors to what you are looking for. It is the goal to bring investors relevant and useful recommendations. Besides, there is also descriptive listings for Loans,trade boards from our extensive database.

Doing Business in Nicaragua
It is available to find out business reports on successful trading, negotiating and dealing with business culture in Nicaragua. Additionally,this website offers to get practical tips how to do business with Nicaragua.

About Nicaragua
There is available to find out Nicaragua's general outlook on the issues of its social and business profile, passport/visa, money, accommodation, government, duty free, health and so forth.

Nicaragua Country Commercial Guide
Strategis.gc.ca sponsored by STAT-USA aims to supply basically business travel information about Nicaragua in order to inform the entrepreneurs and investors looking for business opportunities in Nicaragua.

Trade Information

U.S. Embassy in Nicaragua - Economic and Commercial Section
This website contains comprehensive trade and investment information for doing businness in Nicaragua that is a services of the United States Department of State.

American Chamber of Commerce of Nicaragua
It is the oficial website sponsored by USA aiming to provide intensive information about Nicaragua's business related to USA.

 
 
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